Wednesday, November 26, 2008

The End to Free Markets?

Readers of our BLOG know we are fans of the free market and the benefits of free markets to free societies. Dick Morris has a great article about the free market on

Public schools are a government monopoly and not a part of the free market. Because of that the quality is poor, accountability is none existent and productivity is low. Until our legislators stop pandering to the unions and the various groups associated with public schools we will continue to see costs increase, productivity decrease, accountability decrease and the quality of education our children receive will continue to decrease.

Recently the government has been bailing out so called free market businesses, these moneys will probably be minute compared to the probable bailouts of the States and State pensions including teachers pensions that will come under the Obama Administration. My suggestion to readers is to cut your spending now because you will be paying big taxes to those government groups who refuse to live within their means.


The Free Market Consensus 1989-2008: RIP

Wednesday, November 26, 2008 7:16 PM
By: Dick Morris & Eileen McGann

The subprime mortgage crisis is only the Sarajevo which caused the financial collapse. The real reason is the massive explosion of debt at all levels and in all forms that has engulfed the world. Since 1992, the total of debt in the world has gone from a level equal to global GDP to a level that is now 3.7 times as much as global GDP. This debt explosion, explained in Charles Morris' book (no relation) The Trillion Dollar Meltdown, consists not only of mortgages, but bonds for corporations that can't repay them, credit cards for consumers who are neck deep in debt, car loans for drivers who can't meet the payments, student loans that are swamping young couples, and default insurance sold by companies that can't make good on their commitments. This massive debt has to be sweated out of our global economic system like a heroin addiction.

To read the rest of the article go to

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